Transferring / Closing an Account
In Germany, banks are allowed to terminate the accounts of their bank customers; the account holder can appeal against this decision if they believe that the termination was not justified. A bank must specify its reasons for terminating the account, and only the following reasons justify account closure:
The customer gave false information in their initial application
The customer does not stick to the rules agreed in the contract
The customer harassed employees or other customers of the bank
The customer uses or used the account for illegal purposes, such as money laundering
The customer does not meet the account's minimum monthly income limit
The customer does not pay, or only partially pays, the running costs for the account
The account can no longer be used as originally intended
If the bank has terminated your account, you can appeal by sending a letter of complaint to the relevant customer complaints organisation which in turn forwards the complaint to an ombudsman. For details, see Appealing a Rejection.
Account Closure and Transfer by the customer
You are allowed to close your bank account without giving notice: closing your account is free of charge. However, since living without a bank account proves particularly difficult in Germany, it is a good idea to open a new account before closing your old one, unless you are leaving the country. If you keep both accounts open for three months, you will be able to check that salary payments and transferred direct debits are functioning correctly before you cancel your previous account. Before closing your old account, make sure that you have told the following people and companies about your new account details:
Employer
Electricity, Water, Gas supplier
Telephone provider
State organisations, such as local tax offices or the job centre
Pension fund
Tax consultant
Other banks or institutions to whom you transfer money or who transfer money to you
Landlord
the GEZ: the radio and television licence fee agency
If you transfer your account, make sure that you transfer your full balance from your old account. Some banks offer an account transfer service, to simplify and speed up the process, and ensure nothing is forgotten: ask your bank whether this is a service they provide.
